RECONVERSION: The Answer?

A main business question is: How will
U.S. business finance reconversion and postwar expansion? The Federal
Reserve Bulletin answered last week: in July all U.S. businesses had
the enormous mass of $39,000,000,000 tucked away in demand deposits.
Said the Bulletin: "Business in the aggregate may be approaching a
position where its reconversion and immediate postwar-expansion needs
can be financed with a minimum of reliance on bank loans and other
external financing. . . . But. . . many individual firms or even entire
groups may still [be] short of funds."